It’s been said that ‘a picture is worth a thousand words’.
The image above is either worthy of hundreds-of-thousands of words; if we wade into politics, government bureaucracies, the failed policies of levels of government(s), both elected and unelected, and so much more beyond this…
Or
This image can also be (for anyone making a mortgage, rent, or debt payment) boiled down to one single word; F*ck!
I’ve invested a lot of hours over the past 15 years, writing about the policies that have either done nothing to fix things or have made things worse. There are few examples of steps taken in the right direction when it comes to housing.
To addressing the housing crisis. (let’s call it what it is)
For those lucky enough to have housing, there is a new crisis for them – a payment crisis.
The (ever increasing) damage being done to up and coming generations of prospective homeowners and tenants alike by multiple levels of government is staggering and will take a generation, or longer, to repair.
Today I offer one more word, with the power to fix the above chart at least; amortization!
Let’s hope someone with some power is willing to do something useful, starting with relief on effective amortization(s).